...this is what's known as a capital good. There is no profit incentive for the private sector to build a lighthouse, but for the greater economic good, the government recognizes the need and builds it. Economic good comes from the lighthouse being built. Ships don't go on the rocks, lives are saved, and the cheap stuff from China stays cheap at local stores.
The stadium might be considered a capital good. There may not be a direct profit in the stadium, but businesses and the community (at large) will benefit.
I could go enjoy and evening at the ballpark for a lot cheaper than taking my family to Jungle Rapids for an evening. I've experienced both forms of entertainment (minor league game vs. Jungle Rapids).
When Buck Hardee Stadium had a Steve Miller concert a few years back, it was jam-packed. I scratched my head over why this isn't being done more often. This new venue would likely be even better for that type of entertainment.
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